Kelly Services (KELYA) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Kelly Services (NASDAQ:KELYA) from a hold rating to a buy rating in a research note released on Thursday morning.

Several other research analysts have also recently issued reports on KELYA. Zacks Investment Research raised shares of Kelly Services from a hold rating to a buy rating and set a $32.00 target price for the company in a report on Wednesday, February 7th. ValuEngine raised shares of Kelly Services from a buy rating to a strong-buy rating in a report on Thursday, March 1st.

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Shares of NASDAQ KELYA traded up $0.17 during midday trading on Thursday, reaching $30.13. The company had a trading volume of 35,055 shares, compared to its average volume of 160,182. The stock has a market cap of $1,143.23, a P/E ratio of 13.62 and a beta of 1.01. Kelly Services has a 1 year low of $20.33 and a 1 year high of $30.99.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Kelly Services had a net margin of 1.33% and a return on equity of 7.92%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $0.55 earnings per share. sell-side analysts forecast that Kelly Services will post 2.35 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KELYA. Teachers Advisors LLC grew its position in shares of Kelly Services by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 56,983 shares of the business services provider’s stock valued at $1,554,000 after purchasing an additional 2,503 shares during the period. California Public Employees Retirement System grew its position in shares of Kelly Services by 2.3% in the third quarter. California Public Employees Retirement System now owns 142,241 shares of the business services provider’s stock valued at $3,569,000 after purchasing an additional 3,241 shares during the period. LSV Asset Management grew its position in shares of Kelly Services by 0.4% in the fourth quarter. LSV Asset Management now owns 1,012,761 shares of the business services provider’s stock valued at $27,617,000 after purchasing an additional 3,900 shares during the period. Wells Fargo & Company MN grew its position in shares of Kelly Services by 2.5% in the third quarter. Wells Fargo & Company MN now owns 169,015 shares of the business services provider’s stock valued at $4,241,000 after purchasing an additional 4,049 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Kelly Services by 78.9% in the third quarter. SG Americas Securities LLC now owns 9,288 shares of the business services provider’s stock valued at $233,000 after purchasing an additional 4,097 shares during the period. 68.09% of the stock is owned by institutional investors.

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About Kelly Services

Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).

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